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CITY OF ST. ANTHONY, MINNESOTA
<br />REQUIRED SUPPLEMENTARY INFORMATION Statement 16
<br />SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY* AND RELATED RATIOS -
<br />ST. ANTHONY FIRE DEPARTMENT RELIEF ASSOCIATION
<br />For The Year Ended December 31, 2017
<br />Fiscal year ending December 31, 2017 December 31, 2016 December 31, 2015
<br />Measurement date December 31, 2017 December 31, 2016 December 31, 2015
<br />Total pension liability:
<br />Service cost $37,542 $47,233 $44,095
<br />Interest 44,308 31,829 30,759
<br />Changes of benefit terms - - -
<br />Differences between expected and actual experience (35,041) - -
<br />Changes of assumptions 2,699 (36,075) -
<br />Benefit payments, including refunds of employee contributions (7,260) (80,200) (25,472)
<br />Net change in total pension liability 42,248 (37,213) 49,382
<br />Total pension liability - beginning 704,562 741,775 692,393
<br />Total pension liability - ending (a) $746,810 $704,562 $741,775
<br />Plan fiduciary net position:
<br />Contributions - employer $6,000 $6,000 $6,000
<br />Contributions - State of Minnesota 51,206 51,174 48,725
<br />Contributions - employee - - -
<br />Net investment income 93,511 39,971 (23,129)
<br />Benefit payments, including refunds of employee contributions (7,260)(80,200)(25,472)
<br />Administrative expense (11,829)(8,653)(10,561)
<br />Other - - -
<br />Net change in plan fiduciary net position 131,628 8,292 (4,437)
<br />
<br />Plan fiduciary net position - beginning 901,635 893,343 897,780
<br />Plan fiduciary net position - ending (b)$1,033,263 $901,635 $893,343
<br />Net pension liability (asset) - ending (a) - (b)($286,453)($197,073) ($151,568)
<br />Plan fiduciary net position as a percentage of the total pension liability 138.36%127.97%120.43%
<br />Covered-employee payroll**NA NA NA
<br />Net pension liability as a percentage of covered employee payroll**NA NA NA
<br />Pension benefit per year of service $3,300 $3,300 $3,300
<br />Number of plan participants 35 32 32
<br />*GASB 68 was implemented in 2015. Information prior to 2015 is not available.
<br />**The Relief Association is comprised of volunteers, therefore there are no payroll expenditures.
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